“As long as more than 90 per cent of capital expenditure goes to exploration and production of more fossil fuels, and not to new business models, we see no sense of urgency, no commitment to Paris, and no imagination beyond oil and gas,” said Mr van Baal.

Follow This, The Dutch environmental group, has filed a shareholder resolution for the third straight year asking Shell to set specific targets for curbing greenhouse gas emissions n line with the Paris agreement.

Activist shareholders in Royal Dutch Shell are preparing a renewed push for the company to adopt more ambitious goals for tackling climate change. Shell is expected to face a shareholder resolution calling at its annual meeting in May for a radical shift away from fossil fuels.

Shell has recommended that its shareholders vote against a climate resolution that an activist climate group wants passed at the annual general meeting next month. Dutch climate group Follow This has filed for a third consecutive year a proposal for a binding resolution to be voted at Shell’s AGM.

Bowing to pressure from shareholders and the Paris international climate accord, Royal Dutch Shell pledged on Tuesday to increase its investment in renewable fuels and to cut its carbon emissions in half by 2050.

“We have voted against this deal because we think there is a much better way to spend billions: in renewable energy,” Mark van Baal, founder of Follow This, a group of Shell shareholders supporting green energy.

follow this | Change the world: buy Shell

Follow this wants to make the world sustainable quicker by making Shell a renewable energy company. We can achieve this by becoming shareholders in droves and to unite existing shareholders (like pension funds) behind this goal. Until Shell feels enough support to change course.